Buffet Rule - Obama's Millionaire Tax Rate Increase: Is it the correct path for our country?

President Barrack Obama is expected to seek a new tax rate for millionaire's in America. The purpose of the new tax rate is to ensure millionaire's pay an equal percentage of their wealth as do taxpayers from the middle class. 


According to White House spokesmen, Obama will announce this new plan as part of his proposal on Monday for long term deficit reduction. It is being called the Buffet Rule after multi-billionaire Warren Buffet because of complaints he made about rich people like him paying a less amount of their income in federal taxes than those making middle class wages.
The Buffet Rule will seek a new base tax rate for the wealthy to ensure they are paying the same amount of taxes on their income as middle class tax payers. It is essentially a new tax rate for the rich.

 

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Buffet Rule - Obama's Millionaire Tax Rate Increase: Is it the corr...

 

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